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QIP fund raising: PNB, IDBI Bank complete QIP helped by peer PSU banks

Explore Now Mumbai: State owned Punjab National Bank (PNB) and Life Insurance Corp (LIC) contolled IDBI Bank managed less than their targeted amounts through a qualified institutional placement (QIP) despite offering the maximum permissible 5% discount to investors highlighting the challenges that government owned lenders face in raising capital from the market. PNB managed to raise about Rs 3,800 crore out of its targeted Rs 7,000 crore while IDBI Bank managed to raise about Rs 1,400 crore out...
Shaktikanta Das Life Insurance Corp Indian Bank Punjab National Bank Canara Bank Union Bank

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